Cheong has been with the company since September 2025 most recently as deputy head of marine, while Lee first joined Berkley in 2016, most recently serving as head of marine.
The ruling sets an important precedent that insureds cannot invoke the presumption of loss by perils of the seas where investigation was possible but not pursued.
4.97bn rupee (approx. US$53.5m) scheme sees India joins a growing list of governments mobilising state-backed insurance support in response to conflict.
India's long-delayed plans for a domestic P&I club have gained fresh urgency as the Strait of Hormuz blockade disrupts the country's energy cargo flows.
Fitch has identified correlated aggregation risk as the key near-term concern for specialty insurers, even as the agency maintains a broadly contained ratings outlook.
